A short, yet strange, trip

This chart shows the daily closing price of the AMEX Internet Index since I joined EDventure Holdings in April 1998.

At the time, I suspected we were at the end of the Internet boom, which started with the 1995 Netscape IPO. I thought that as stock mania subsided, energy would shift to figuring out what had changed and how to build real businesses. If you look closely at the chart, you can see that I was right. Throw out the anomalous spike in the middle, and the pattern is unmistakable. Internet stock prices have been relatively calm over the four-year period. Maybe it was all just a dream….